The California Earthquake Authority (CEA) has now secured its new Ursa Re Ltd. (Series 2023-2) earthquake catastrophe bond at the upper-end of the targeted size, securing itself $230 million in collateralized earthquake reinsurance from the issuance, while the notes priced towards the lower-end of guidance.
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The California Earthquake Authority (CEA) has increased the target size for its new Ursa Re Ltd. (Series 2023-2) earthquake catastrophe bond transaction, with now as much as $230 million in collateralized reinsurance sought from the issuance.
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The California Earthquake Authority (CEA) is back to reopen the 144a catastrophe bond market during its traditional summer wind season pause in issuance, seeking $150 million or more in earthquake reinsurance protection via a new Ursa Re Ltd. (Series 2023-2) transaction.
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